ITO 19 (1)(3), MUMBAI V. GOYAM JEWELS, MUMBAI

ITA 5710/MUM/2018

• Counselvise Citation: [2019] 115 COUNSELVISE.COM (IT) 8536 (ITAT-MUMBAI)
• Duration Of Justice: 1 year(s) 4 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 09-10-2019
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: SMC
• Assessment Year: 2007-2008
• Appeal Filed On: 05-10-2018
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: K JOTHILAKSHMI NAYAKLD
• Keywords: Tax effect

Judgement Text

1 ITA NO.5710/MUM/2018 M/S. GOYAM JEWELS ASSESSMENT YEAR-2007-08 - IN THE INCOME TAX APPELLATE TRIBUNAL SMC BENCH, MUMBAI , , BEFORE HONBLE SHRI SAKTIJIT DEY, JM AND HONBLE SHRI MANOJ KUMAR AGGARWAL, AM ./ I.T.A. NO.5710/MUM/2018 ( / ASSESSMENT YEAR:2007-08) INCOME TAX OFFICER - 19(1)(3) ROOM NO.220, MATRU MANDIR MUMBAI-400 007. / VS. M/S. GOYAM JEWELS 18, 3 RD FLOOR, FATIMA MANZIL 216, RAJA RAM MOHAN ROY ROAD MUMBAI-400 004. !'# ./ ./PAN/GIR NO.: AAFFG-2610-K ( !' /APPELLANT ) : ( #$!' / RESPONDENT ) !' / APPELLANT BY : MS. K.JOTHILAKSHMI NAYAKLD. SR. DR #$!' / RESPONDENT BY : NONE / DATE OF HEARING : 09/10/2019 / DATE OF PRONOUNCEMENT : 09/10/2019 / O R D E R MANOJ KUMAR AGGARWAL (ACCOUNTANT MEMBER): - 1. AFORESAID APPEAL BY REVENUE FOR ASSESSMENT YEAR [IN SHORT REFERRED TO AS AY] 2007-08 CONTEST THE ORDER OF LD. COMMISSIO NER OF INCOME-TAX (APPEALS)-30, MUMBAI, [IN SHORT REFERRED TO AS CIT (A)], APPEAL 2 ITA NO.5710/MUM/2018 M/S. GOYAM JEWELS ASSESSMENT YEAR-2007-08 NO.30/19(1)(3)/10691/17-18 DATED 09/07/2018 ON CERTAIN GROUNDS OF APPEAL. 2. NONE HAS APPEARED FOR ASSESSEE AND NO VALID ADJO URNMENT APPLICATION IS ON RECORD. HOWEVER, THE MATTER IS PR OCEEDED WITH EX-PARTE QUA THE ASSESSEE KEEPING IN VIEW OF THE FACT THAT T HE APPEAL IS NOT MAINTAINABLE IN TERMS OF LOW TAX EFFECT CIRCULAR NO . 17/2019 DATED 08/08/2019 RECENTLY ISSUED BY CBDT. 3. UPON PERUSAL OF QUANTUM ASSESSMENT ORDER, IT TRA NSPIRES THAT THE TAX EFFECT OF THE QUANTUM ADDITIONS BEING CONTESTED BY THE REVENUE IS BELOW THE THRESHOLD MONETARY LIMIT OF RS.50 LACS AS PRESCRIBE D BY CENTRAL BOARD OF DIRECT TAXES IN ITS RECENTLY ISSUED CIRCULAR NO.17/ 2019 DATED 08/08/2019 [F.NO.279/MISC.142/2007-TTJ(PT.) GOVERNMENT OF INDI A, MINISTRY OF FINANCE, DEPARTMENT OF REVENUE] AND THEREFORE, THE APPEAL IS NOT MAINTAINABLE. THIS RECENT CIRCULAR FURTHER ENHANCES THE MONETARY LIMIT FIXED IN EARLIER CIRCULAR NO.3 OF 2018 DATED 11/07/2018 I SSUED BY CBDT AS AMENDED ON 20/08/2018. THE LD. DEPARTMENTAL REPRESE NTATIVE IS UNABLE TO POINT OUT ANY EXCEPTIONS IN THE APPEAL AS PROVIDED IN PARA-10 OF CIRCULAR NO. 3 OF 2018 DATED 11/07/2018 OR IN ANY SUBSEQUENT CIR CULAR / INSTRUCTIONS. THE PERUSAL OF ORDERS OF LOWER AUTHORITIES, PRIMA FACIE, ESTABLISH THAT THE TAX EFFECT OF QUANTUM ADDITION BEING CONTESTED BY THE R EVENUE IS BELOW RS.50 LACS. 4. WE HAVE GONE THROUGH THE CIRCULAR AND FIND THAT THE TAX EFFECT IN THE APPEAL IS BELOW PRESCRIBED LIMIT OF RS.50 LACS AND THE ASSESSEE STOOD BENEFITTED BY THE ABOVE CIRCULAR ISSUED BY CBDT WHE REIN THE MINIMUM 3 ITA NO.5710/MUM/2018 M/S. GOYAM JEWELS ASSESSMENT YEAR-2007-08 MONETARY LIMIT FOR FILING THE APPEALS BEFORE VARIOU S APPELLATE AUTHORITIES HAVE BEEN FIXED AS UNDER: - S. NO. APPEALS/ SLPS IN INCOME-TAX MATTERS MONETARY LIMIT (RS.) 1 BEFORE APPELLATE TRIBUNAL 50.00,000 2 BEFORE HIGH COURT 1,00.00,000 3 BEFORE SUPREME COURT 2,00.00,000 THE AFORESAID LIMITS, AS PER PARA 13 OF THE CIRCULAR NO. 3 OF 2018 DATED 11/07/2018, APPLIES TO THE PENDING APPEALS ALSO. KE EPING IN VIEW THE SAME, WE DISMISS THE APPEAL FILED BY THE REVENUE. 5. AT THE SAME TIME, A LIBERTY IS GRANTED TO REVENU E TO SEEK RECALL OF THE APPEAL, IF AT A LATER STAGE, IT IS FOUND THAT THE M ATTER IS COVERED BY ANY EXCEPTIONS PROVIDED IN ANY OF THE CIRCULAR OR IN CA SE THE TAX EFFECT OF THE ADDITIONS IN THE APPEAL AS AGITATED BY REVENUE EXCE EDS THE PRESCRIBED MONETARY LIMIT. 6. RESULTANTLY, THE APPEAL STANDS DISMISSED. ORDER PRONOUNCED IN THE OPEN COURT ON 09 TH OCTOBER,2019. SD/- SD/- (SAKTIJIT DEY) (MANOJ KUMAR AGGARWAL) / JUDICIAL MEMBER / ACCOUNTANT MEMBER MUMBAI; DATED : 09/10/2019 SR.PS:-JAISY VARGHESE 4 ITA NO.5710/MUM/2018 M/S. GOYAM JEWELS ASSESSMENT YEAR-2007-08 '( )( / COPY OF THE ORDER FORWARDED TO : 1. !' / THE APPELLANT 2. #$!' / THE RESPONDENT 3. ( ) / THE CIT(A) 4. / CIT CONCERNED 5. + ,# - , - , / DR, ITAT, MUMBAI 6. , ./0 / GUARD FILE / BY ORDER, / (DY./ASSTT.REGISTRAR) , / ITAT, MUMBAI.